Product ID: UCMIG25E2124
Report ID:
UCMIG25E2124 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market value of automatic and smart pet feeders exceeded USD 1 billion in 2022 and is forecasted to maintain a growth rate of over 15% from 2023 to 2032. The increased demand for these feeders is primarily propelled by technological advancements in smart home systems and the amplified need for enhanced pet supervision. Pet owners are increasingly embracing digitalization and home automation, leading to a surge in the popularity of smart pet feeders that offer connectivity with smartphones and other devices, enabling real-time updates and remote pet monitoring. These feeders, integrated with smart technology, can even be managed through virtual personal assistants like Amazon Alexa.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Consumer Electronics by segment aggregation, the contribution of the Consumer Electronics in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25E2124